Be careful buying or selling gold on Craigslist Chicago

Two 17-year-old boys were arrested in Bend, Oregon, for selling fake gold bars to customers on Craigslist, according to police.

The teen boys bought knockoffs of Perth Mint and Royal Canadian Mint gold bars online and then re-sold them as real ones.

The pair managed to earn a total of $50,000 in eight months.

“The juveniles were sophisticated and used multiple ways to conceal their identity and scheme,” local media quoted Bend police Lt. Clint Burleigh as saying.

The two are being charged with aggravated theft by deception and conspiracy, and felony computer crime, police stated. And only one of the suspects is being charged with money laundering.

Authorities said they were able to identify only four victims so far and asked others who bought Royal Canadian Mint or Perth Mint gold bars online from an unknown person in Oregon between last July and March 21 to contact Bend police at 541-693-6911.

Officers also issued a warning, cautioning citizens to only buy precious metals and gems from “reputable dealers in the area.”